Category: Financial Services

June 29, 2018 BY Valentina Kirilova

Former CEO of China Forestry charged with insider dealing

The Hong Kong Securities and Futures Commission (SFC) has informed that it has commenced proceedings in the Market Misconduct Tribunal (MMT) against Mr Li Kwok Cheong and Mr Li Han Chun, former chairman and chief executive officer (CEO) of China Forestry Holdings Company Limited (China Forestry), respectively, for suspected disclosure of false or misleading information…

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June 29, 2018 BY Valentina Kirilova

ASIC disqualifies former director of Walton Construction

Australian regulator ASIC has announced that it has disqualified Mr Craig Hall Walton of East Melbourne, Victoria, from managing companies for four years as a result of his involvement in two failed companies. Mr Walton was disqualified after liquidators were appointed to Walton Construction Pty Ltd ACN 060 900 218 and Walton Construction (QLD) Pty…

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June 29, 2018 BY Valentina Kirilova

SEC and CFTC announce approval of new MoU

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced that the two agencies have approved a Memorandum of Understanding (MOU) that will help ensure continued coordination and information sharing between the two agencies. The MOU updates and enhances a 2008 MOU to make it more relevant in the current…

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June 29, 2018 BY LeapRate Staff

Trading software provider TradeMasters and owner Mick Schacke hit with fraud fine

The U.S. Commodity Futures Trading Commission (CFTC) has announced that the Honorable Gloria M. Navarro of the U.S. District Court for the District of Nevada (Las Vegas) entered an Order of Summary Judgment against Defendant Mirko (Mick) Schacke of Brentwood, California (formerly Antioch, California), and a Default Judgment against Schacke’s company, TradeMasters USA, LLC of Las Vegas, Nevada. The…

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June 28, 2018 BY LeapRate Staff

Former Equifax manager Sudhakar Bonthu charged with Insider Trading

The U.S. Securities and Exchange Commission (SEC) has announced that it has charged a former Equifax manager with insider trading in advance of the company’s September 2017 announcement of a massive data breach that exposed Social Security numbers and other personal information of approximately 148 million U.S. customers. This is the second case the SEC…

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June 28, 2018 BY Valentina Kirilova

FCA warns against Everett Capital Partners firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Everett Capital Partners. Everett Capital Partners is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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June 28, 2018 BY Valentina Kirilova

DBA Telecommunication (Asia) Holdings Limited fined $20,000 by SFC

The Eastern Magistrates’ Court has announced that it has today convicted DBA Telecommunication (Asia) Holdings Limited (DBA) after it pleaded guilty to making a false or misleading statement in a prosecution brought by the Hong Kong Securities and Futures Commission (SFC). DBA was fined $20,000 and ordered to pay the SFC’s investigation costs. On 28…

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June 28, 2018 BY Valentina Kirilova

ASIC bans financial adviser for 4 years

Australian regulator ASIC has announced that it has banned financial adviser Mr Graeme Ashley Cowper, of Oatley, NSW, from providing financial services for 4 years after an investigation found he was not adequately trained or competent to provide financial services. This is the first administrative banning decision made by ASIC’s new Financial Services and Credit…

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June 28, 2018 BY Valentina Kirilova

FCA warns against Crown Finance clone firm

The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Crown Finance. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…

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